I was hoping to publish the top 5 single family home sales in the city since the first of the year, but none of them have disclosed their final sales price. So the sales price quoted below is the actual listing price, you’ll just have to use some imagination. It’s still fun to look at all of those photos!

1) 3355 Pacific Ave – $8.9 mil
2) 2629 Pierce St – $7.750 mil
3) 2712 Broadway St – $7.750 mil
4) 200 Locust St - $7.195 mil
5) 3222 Jackson St – $6.995 mil

Source: San Francisco MLS. Links expire in 30 days.

Here are the top 5 most expensive city-wide condominium sales since Jan 1, 2009.

1) 1009 Francisco St (no photos) – $5.5 mil
2) 765 Market St #26F – $4.7 mil
3) 175 Francisco St – $3.2 mil
4) 840 Powell St #702 – $$3.158 mil
5) 1170 Sacramento St PH B – $3.125 mil

Tomorrow I will post the top 5 Single Family Home Sales. The most expensive to date is $8.9 mil.

Source: San Francisco MLS. Links expire in 30 days.

Daily Real Estate News | July 8, 2009

Google says it has improved its search capabilities for real estate shoppers.

Its new landing page allows buyers to link directly to property and rental listings using general screens like “homes with pools in Wilmington, Del.” The 10 most relevant listings are shown with pins. Its street view lets buyers check out what the neighborhood looks like.

Mike Blumenthal, a blogger, says so far these additions have been largely ignored because Google hasn’t promoted them. “It’s indicative of Google wanting to get into real estate, but at the moment the tool is buried deep in Maps,” he says.

Google Maps continues to trail Yahoo Real Estate, Realtor.com and Trulia.com

Source: Media Daily Online, Laurie Sullivan (06/26/2009)

This weeks edition includes: New Condo Listings, New Live/Work Listings, Price Reductions, Pending Sales, Sold Prices and Useful Links. The South Beach Real Estate Real Estate Newsletter is emailed on Fridays. Interested?

Just email your name to mnovia@southbeachrealestate.com to join the list. I give you my personal guarantee that your email address will never be sold, given away or otherwise used. Easy opt out let’s you decide when to stop receiving the updates.

Michael Novia
Broker Associate
South Beach Real Estate
415-637-2409 (24 hours)
mnovia@southbeachrealestate.com
DRE License: 01450953

Daily Real Estate News  |  July 6, 2009  

It’s still difficult for buyers to get jumbo mortgages, but it appears to be easier than it was six months ago.

Bank of America, Wells Fargo, and JPMorgan Chase & Co. are cutting rates somewhat, buying jumbo loans made by other lenders and purchasing them from brokers. One factor is that jumbo loans are not subject to new appraisal rules that are slowing much of the lending market.

“The whole jumbo market has improved in the last 90 days,” says Terry Erwin, chief lending officer for KeyPoint Credit Union, a jumbo lender founded in 1979 to serve electronics industry workers in California’s Silicon Valley.

Erwin says the most frequently selected loans at his company are 5/1 hybrid ARMs, which carry a fixed rate for five years before converting to a loan that adjusts annually.

Source: Inman News, Matt Carter (07/06/2009)

As of midnight tonight the state will stop accepting applications for the California $10,000 new home purchase tax credit. They reached the $100 mil limit on 6/26 but continued to accept another 12,000 applications because of anticipated errors, duplicates etc.

As of today, the Radiance at Mission Bay sales team has joined with South Beach Real Estate to help sell the remaining 14 (or so) homes. At the current sales rate Radiance should be sold out by the end of the summer. Phase 2 is expected to break ground by the end of this year with completion by late 2012.

Michael Novia
Broker Associate
South Beach Real Estate
415-637-2409
mnovia@southbeachrealestate.com
DRE License: 01450953

This weeks edition includes: SoMa Sales Overview, New Condo Listings, New Live/Work Listings, Price Reductions, Pending Sales, Sold Prices and Useful Links. The South Beach Real Estate Real Estate Newsletter is emailed on Fridays. Interested?

Just email your name to mnovia@southbeachrealestate.com to join the list. I give you my personal guarantee that your email address will never be sold, given away or otherwise used. Easy opt out let’s you decide when to stop receiving the updates.

Michael Novia
Broker Associate
South Beach Real Estate
415-637-2409 (24 hours)
mnovia@southbeachrealestate.com
DRE License: 01450953

The Federal Reserve announced Wednesday that it expects to keep short-term interest rates “exceptionally low” for the next few months. It also underscored its commitment to make $1.25 trillion in total purchases of mortgage-backed securities by the end of year.

Both actions are likely to keep mortgage rates low through the end of 2009.

The Fed failed to raise a cap of $300 billion in purchases of Treasury securities, which could lead indirectly to higher mortgage rates because mortgage rates tend to rise in conjunction with Treasurys.

In response to the possibility of rising mortgage rates, the Mortgage Bankers Association this week cut its forecast for total 2009 mortgage originations by 27 percent.

Source: Inman News (06/25/2009)